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In 2022, the Minister of Trade, Industry and Cooperatives (Minister) tabled before Parliament the Competition Bill, 2022 and after undergoing several revisions, it was assented to by the President on 2 February 2024. In the past, there were only sector specific competition laws for example in the banking, telecommunications, and energy sectors therefore the Competition Act, 2023 (the Act) cures this by providing for Uganda’s first ever national law on competition.
12 March 24
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The Act seeks to among others promote and sustain fair competition and to prevent practices with an adverse effect on competition in markets in Uganda. The Act applies to anti-competitive practices, anti-competitive agreements, abuse of dominant position, mergers, acquisitions, and joint ventures with an adverse effect on competition. The Act does not have a commencement date and it will only come into force once gazetted.
This article highlights the salient aspects of the Act in the context of mergers, acquisitions, and joint venture transactions.
Click here read and download the full article.
Should you have any questions regarding the information in this legal alert, please do not hesitate to contact Fiona Magona.
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Contributor
Flavia Suubo – Associate